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Reliance Capital gains after board approves independent listing of home finance business

Reliance Capital gains after board approves independent listing of home finance business

Sep 14,2016

The announcement was made yesterday, 13 September 2016, when stock market remained closed on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was down 46.19 points or 0.16% at 28,307.35.

On BSE, so far 6.75 lakh shares were traded in the counter as against average daily volume of 5.01 lakh shares in the past one quarter. The stock hit a high of Rs 561.50 and a low of Rs 546.65 so far during the day. The stock had hit a 52-week high of Rs 574 on 9 September 2016. The stock had hit a 52-week low of Rs 303.60 on 12 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, rising 21.96% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.06% as against Sensexs 6.45% rise.

The large-cap company has equity capital of Rs 252.63 crore. Face value per share is Rs 10.

Reliance Capital said the independent listing of Reliance Home Finance (RHF) is expected to unlock substantial value for existing shareholders of Reliance Capital. The listing of Reliance Home Finance will also lead to increased management focus and accelerated growth in the home finance business. As per the proposal, 49% stake in Reliance Home Finance Limited will be allotted to all shareholders of Reliance Capital, in the ratio of one share free of cost in Reliance Home Finance for every one share held in Reliance Capital.

Reliance Capital will hold a 51% stake in Reliance Home Finance, and the company will be adequately capitalised to grow the lending book to over Rs 20000 crore in the next 18 months. The proposal is subject to necessary shareholders and other approvals. Reliance Home Finance, a 100% subsidiary of Reliance Capital, provides a wide range of loan solutions like home loan, LAP, construction finance and affordable housing loans. The company reported an AUM of Rs 8259 crore ($1.2 billion) during the quarter ended 30 June 2016.

Mr. Anmol A. Ambani, Director, Reliance Capital said Prime Minister, Narendra Modi has set a goal of affordable housing for all by 2022. There is presently an estimated shortage of 10 crore residential units in India. To address the needs of this sector, Reliance Home Finance has charted an aggressive growth plan in this space, and aims to increase its book size to over Rs 50000 crore in the next few years.

On a consolidated basis, Reliance Capitals net profit rose 3% to Rs 207 crore on 48.3% growth in total income to Rs 3663 crore in Q1 June 2016 over Q1 June 2015.

Reliance Capital, a part of the Reliance Group, is one of Indias leading private sector financial services companies.

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Outcome of board meeting of Jayaswal Neco Industries
Nov 28,2016

Jayaswal Neco Industries announced that the Board of Directors of the Company at its meeting held on 28 November 2016 transacted the following -

Took note of appointment of Baljinder Kaur Mandal as Nominee Director of IDBI Bank with effect from 28 November 2016 in place of P K Das.

Approved dis-investment of share held in Jayaswal Neco Urja, the subsidiary of Company, thereby ceasing the status of holding and subsidiary company.

Considered the proposal for exploring the possibility of hiving off Flat Product Division (which is non-operational) of the Company.

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Board of Asian Hotels (East) to consider Q2 and HY results
Nov 28,2016

Asian Hotels (East) announced that a meeting of the Board of Directors of the Company will be held on 09 December 2016, inter alia, to consider and approve the unaudited standalone financial results for quarter (Q2) and half year (H1) ended on 30 September 2016.

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Board of Asian Hotels (East) to consider Q2 and HY results
Nov 28,2016

Asian Hotels (East) announced that a meeting of the Board of Directors of the Company will be held on 09 December 2016, inter alia, to consider and approve the unaudited standalone financial results for quarter (Q2) and half year (H1) ended on 30 September 2016.

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The global economy has the prospect of modestly higher growth
Nov 28,2016

n++The global economy has the prospect of modestly higher growth, after five years of disappointingly weak outcomes,n++ OECD Secretary-General Angel Gurrn++a said while launching the Global Economic Outlook. n++In light of the current context of low interest rates, policymakers have a unique window of opportunity to make more active use of fiscal levers to boost growth and reduce inequality without compromising debt levels. We urge them to do so,n++ Mr Gurrn++a said.

The Outlook projects that well targeted public spending initiatives could catalyse private economic activity and help to get the global economy out of the low-growth trap. The ongoing or projected shift in the fiscal stance in a number of major economies accounts for much of the modest increase in global growth to 3.3% in 2017 and 3.6% in 2018.

Among the major advanced economies, activity is expected to accelerate in the United States, due to an assumed easing of fiscal policy, with the economy projected to grow by 2.3% in 2017 and 3% in 2018. The euro area will grow at a 1.6% rate in 2017 and by 1.7% in 2018. In Japan, growth is projected at 1% in 2017 and 0.8% in 2018. The 35-country OECD area is projected to grow by 2% in 2017 and 2.3% in 2018, according to the Outlook.

With rebalancing continuing in China, growth is expected to continue drifting lower, to 6.4% in 2017 and 6.1% in 2018. Indias growth rates are expected to hover above 7.5% over the 2017-18 period, but many emerging market economies will continue to grow at a more sluggish pace. The deep recession in Brazil is expected to end in 2017, after which the economy will grow at a 1.2% rate in 2018.

The Outlook draws attention to conditions that create a n++window of opportunityn++ for new fiscal initiatives, as extraordinarily accommodative monetary policy has led to very low interest rates and created fiscal space. A targeted annual increase in public spending of n++ percent of GDP could be financed for several years in most countries without increasing the debt-to-GDP ratio in the medium term. Combining this initiative with structural reforms, and acting collectively across countries, would boost the impact, according to the Outlook.

n++This is not a blank cheque for governments,n++ Mr Gurrn++a said. n++The OECD is calling for fiscal policy to be used more wisely, with spending targeted at areas that boost growth, like high-quality infrastructure investment, innovation, education and skills, which also make growth more inclusive.n++

The Outlook identifies a number of financial risks where exchange rate and capital flow volatility coupled with pricing distortions are exposing the vulnerability of corporate balance sheets, particularly in emerging markets, and challenging bank profitability and the long-term stability of pension schemes in advanced economies.

An increase in protectionism could risk impairing already weak growth in global trade.

n++Protectionism and the inevitable trade retaliation would offset much of the positive effects of proposed fiscal initiatives on domestic and global growth,n++ said OECD Chief Economist Catherine L. Mann. n++It would also likely raise prices, harm living standards and leave countries in a worsened fiscal position. Trade protectionism may shelter some jobs, but it will worsen prospects and lower well-being for many others.n++

The Outlook calls on governments to avoid protectionist policies and encourages them instead to implement structural policy packages that create more job opportunities, increase business dynamism and promote successful reallocation, ensuring that the gains from trade are better shared by all.

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Board of Trilogic Digital Media approves appointment of directors
Nov 28,2016

The Board of Trilogic Digital Media has approved the appointment of Aparna Shah as Additional Executive Director with effect from 28 November 2016. The Board also approved the appointment of Shivani Jaisingh as Additional Executive Director with effect from 28 November 2016.

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Board of Trilogic Digital Media approves appointment of directors
Nov 28,2016

The Board of Trilogic Digital Media has approved the appointment of Aparna Shah as Additional Executive Director with effect from 28 November 2016. The Board also approved the appointment of Shivani Jaisingh as Additional Executive Director with effect from 28 November 2016.

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Board of Trilogic Digital Media accepts resignation of director
Nov 28,2016

Trilogic Digital Media announced that Murad Khetani has resigned from the position of Director vide his resignation letter dated 28 November 2016.

The board of directors have accepted his resignation with effect from 28 November 2016.

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Board of Trilogic Digital Media accepts resignation of director
Nov 28,2016

Trilogic Digital Media announced that Murad Khetani has resigned from the position of Director vide his resignation letter dated 28 November 2016.

The board of directors have accepted his resignation with effect from 28 November 2016.

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Board of Claris Lifesciences to consider September quarter results
Nov 28,2016

Claris Lifesciences announced that pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a meeting of the Board of Directors of the Company will be held on 08 December 2016, inter alia, to consider, approve and take on record the Unaudited Financial Results of the Company for the quarter ended 30 September 2016 as per Ind-AS.

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Board of Claris Lifesciences to consider September quarter results
Nov 28,2016

Claris Lifesciences announced that pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a meeting of the Board of Directors of the Company will be held on 08 December 2016, inter alia, to consider, approve and take on record the Unaudited Financial Results of the Company for the quarter ended 30 September 2016 as per Ind-AS.

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Cipla appoints director
Nov 28,2016

Cipla announced that the Board of Directors of the Company through a circular resolution on 28 November 2016 has appointed Ireena Vittal as an Additional Director of the Company with effect from 01 December 2016 to hold office as an Independent Director of the Company.

Further, Vittal is not related to any Director of the Company.

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Board of Future Retail to consider September quarter and half year results
Nov 28,2016

Future Retail announced that a meeting of the Board of Directors of the Company is scheduled to be held on 06 December 2016, inter alia, to consider and approve the Unaudited Financial Results for the quarter and half year ended 30 September 2016.

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Board of Future Retail to consider September quarter and half year results
Nov 28,2016

Future Retail announced that a meeting of the Board of Directors of the Company is scheduled to be held on 06 December 2016, inter alia, to consider and approve the Unaudited Financial Results for the quarter and half year ended 30 September 2016.

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BS reports standalone net loss of Rs 64.44 crore in the September 2016 quarter
Nov 28,2016

Net loss of BS reported to Rs 64.44 crore in the quarter ended September 2016 as against net profit of Rs 16.18 crore during the previous quarter ended September 2015. Sales declined 62.76% to Rs 225.73 crore in the quarter ended September 2016 as against Rs 606.18 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales225.73606.18 -63 OPM %-1.9413.27 - PBDT-51.5340.60 PL PBT-64.4424.47 PL NP-64.4416.18 PL

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Triveni Engineering and Industries standalone net profit rises 119.37% in the September 2016 quarter
Nov 28,2016

Net profit of Triveni Engineering and Industries rose 119.37% to Rs 64.67 crore in the quarter ended September 2016 as against Rs 29.48 crore during the previous quarter ended September 2015. Sales rose 48.88% to Rs 639.51 crore in the quarter ended September 2016 as against Rs 429.55 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales639.51429.55 49 OPM %19.2113.50 - PBDT100.0835.38 183 PBT86.3221.32 305 NP64.6729.48 119

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